Is Needham, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Needham has remained a Seller's Market.
Housing Prices in Needham, MA
How much do homes in Needham, MA cost?
Median Sold Price
$1,509,333
$489/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Needham was $1,509,333 in May 2024, up 11.8% from last year, and the median price per square foot was $489.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $362.5K | $355K | -2.1% |
2 Bedrooms | $677.5K | $695.5K | +2.7% |
3 Bedrooms | $1.0M | $1.0M | +8.5% |
4 Bedrooms | $1.4M | $1.5M | +5.1% |
5+ Bedrooms | $2.3M | $2.5M | +8.7% |
Summary: Needham housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.1%, 2 bedroom homes increased by 2.7%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes increased by 8.7%.
Median Sold Price Compared To Nearby Cities
Needham | $1.3M | $1.5M | +11.8% |
Wellesley Hills | $2.0M | $2.2M | +10.7% |
Needham Heights | $1.3M | $1.4M | +7.9% |
Wellesley | $1.8M | $1.9M | +7.5% |
Dover | $1.7M | $1.8M | +5.9% |
Housing Supply in Needham, MA
How many homes are available in Needham, MA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
97 | 115 | +18.6% |
Summary: The Needham real estate market had 115 homes for sale in May 2024, a 18.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 6 | 6 | 0.0% |
3 Bedrooms | 13 | 21 | +61.5% |
4 Bedrooms | 31 | 33 | +6.5% |
5+ Bedrooms | 45 | 53 | +17.8% |
Summary: The Needham housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 61.5%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 17.8%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
25 | 33 | +32.0% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 33 homes were sold or pending in Needham in May 2024, up by 32.0% month-over-month. Of the 33 sold homes, 39% were sold under asking, 3% were sold at asking, and 58% were sold over asking.
Days on Market for Needham, MA
How long does it take to sell a home in Needham, MA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
32 Days | 18 Days | -43.8% |
Summary: Homes in Needham had an average of 18 days on market in May 2024, down by 43.8% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 33 homes were sold in Needham; 88% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.